Banco Santander Purchases
Another Stake in Banco Rio

Dow Jones Newswires

Updated Jan. 20, 1999 12:01 a.m. ET

BUENOS AIRES -- Spanish banking giant Banco Santander SA said Tuesday it paid about $179.6 million for an additional 9.3% of the capital and 3.4% of the voting rights of Argentina's Banco Rio de la Plata SA.

The acquisition, done Jan. 8 on the New York and Buenos Aires stock exchanges, leaves Santander with 51.2% of the capital and 64.3% of the voting rights of Banco Rio, the Spanish bank said in a filing to the Buenos Aires...